Rental-car giant Enterprise Holdings is furloughing some employees and cutting pay for others as it copes with a coronavirus-related reduction in travel.
The Clayton-based company issued a statement Monday saying it "must make some tough decisions in the near-term to match the reality of the current business environment we are operating in." It cited "a significant decrease in reservations and customer demand."
Enterprise said it is furloughing some full-time employees, but did not give a number. It is reducing hours for some part-time employees and cutting pay temporarily for full-timers who are not furloughed. Senior executives will take "significant pay reductions," the statement said.
The furloughed employees will retain their health insurance coverage and can apply for unemployment benefits, which were made more generous in the CARES Act passed by Congress last week. The company also said it is pausing all hiring and reducing the use of third-party contractors.
Enterprise, the nation's largest rental-car company, operates under the Enterprise, National and Alamo brands.
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